Fixing Gender Gap Worth $146b: CFSGAM

Larissa Waterson, InvestorDaily

By taking measures to close the superannuation gap between men and women, the federal government could increase the aggregate superannuation pool by $146 billion, says Colonial First State Global Asset Management. According to Colonial First State Global Asset Management’s (CFSGAM) Power of Closing the Gap report, reducing the difference in superannuation balances between men and women could inject nearly $146 billion into Australia’s super system. One of the authors of the report, CFSGAM senior analyst, economics and market research, Belinda Allen said, “In the current environment of low economic growth and decreasing returns, closing gender gaps and increasing the participation and investments of women represents significant opportunities to increase both economic growth and market value.”

CFSGAM analyst, economics and market research, Carlos Cacho said, “Currently the median super balance of an Australian woman is 35 per cent less than that of a male. “If super balances were equal, based on the current number of women in the workforce, there would be an aggregate dollar increase of $94 billion. “If we were then to increase the participation rate to equal men, and the median super balances of women were the same as men, the aggregate super balance could increase by $146 billion.”

The rest of this article can be found at investordaily.com.au.